Today, advances in technology are the biggest risk for crypto, particularly with the advent of quantum computing, which could break current implementations of cryptography.
When exploring whether Bitcoin is vulnerable to quantum computing, the Bitcoin Foundation revealed, “Is Bitcoin vulnerable to quantum computing? Yes, most systems relying on cryptography in general are, including traditional banking systems. However, quantum computers don't yet exist and probably won't for a while. In the event that quantum computing could be an imminent threat to Bitcoin, the protocol could be upgraded to use post-quantum algorithms.”
So, what is the solution? KAZ identified the major threat posed by quantum computing to the cryptography of Bitcoin early on and worked to develop a solution which uses actual quantum technology to upgrade the cryptography of Bitcoin so that it is quantum secure. The technology uses real quantum phenomena, quantum tunnelling of electrons which are totally unpredictable and entirely random to produce quantum cryptographic keys. If something is truly random it follows that it cannot be reverse engineered and is theoretically impossible to breach. Put simply, quantum keys will be unable to be hacked by any computer system quantum or otherwise. This technology can change the very future of crypto security now and remove the threat posed by quantum computers.
This quantum cryptographic solution and approach is being used by the crypto Quantum Assets on the Binance Smart Chain. They are using the technology to launch Quantum Bitcoin using quantum keys in a bid to ensure the cryptography of Bitcoin remains safe and secure. Read the full article to learn more.